Author Question: Which of the following statements is false: a. Employers are required to pay FICA taxes matching ... (Read 91 times)

WhattoUnderstand · **on:** Jul 6, 2018

Which of the following statements is false:
a. Employers are required to pay FICA taxes matching the amount withheld from their employees.
b. Employers are responsible for paying FUTA Taxes.
c. Employers are responsible for withholding and remitting Federal Income Taxes.
d. Employers must file form 941 quarterly.

Question 2

Colin Street Body Shop has the following information for the pay period ending March 31st: Employee Pay Hours YTD Federal Income Name RateWorkedEarningsT ax Withheld J. Smith 2,500 Salary 27,500 4,125 M. Jones 15/hr 45 7,200 1,080 Assume the Following: FICA-SS Tax Rate is 6.2 FICA-Medicare Tax Rate is 1.45 FUTA Tax Rate is 0.6 on the first 7,000 of wages paid SUTA Tax Rate is 5 on the first 9,000 of wages paid From the information provided above, what would be the amount of Wage Expense recorded?
a. 712.50
b. 2,500.00
c. 3,175.00
d. 3,212.50